Profitable Drugmakers: Defensive Momentum

Druck Drake’s thesis

The tech-led drawdown favors a rotation toward profitable drugmakers, where prescription demand is less dependent on economic growth or AI financing. Every holding has positive monthly and quarterly price momentum, providing confirmation rather than requiring a rebound in broken trends. With central-bank liquidity support unconfirmed, I favor established commercial franchises over speculative pipelines; patent expirations, pricing pressure and failed trials remain the principal risks.